Rupee Hits 4-Week Intra-day Low As Dollar Reigns

Story Highlights
  • Rupee hits 4 week low on Monday.
  • Closes at Rs 79.84 against one Dollar at the forex exchange.
  • Gold and Silver prices also slump

Mumbai: The Indian Rupee hit a four-week low on Monday as the dollar continued its rally on the U.S. Federal Reserve’s hawkish stance. Provisionally, Rupee registered a fall by 4 paise closing at 79.84 against the greenback currency.

Reports showed the domestic unit was last changing hands at 79.8638 per dollar, from its previous close of 79.7825, with the Indian currency trading in 79.7762 to 79.9200 range.The top of the range level of 79.92 marks the weakest in four weeks for the rupee.

Ahead of the Federal Reserve’s Jackson Hole symposium this week, Gold and Silver also registered a fall. The yellow metal price fell by Rs 315 to Rs 51,679 per 10 gram in the national capital on Monday. While silver declined by Rs 635 to Rs 55,416 per kg.

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